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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. Financial information relating to the Company’s reportable segments is as follows.
Three Months Ended March 31,
(in thousands)20252024
Revenues: (1)
Builder operations
Central$361,627 $315,347 
Southeast133,690 128,047 
Total builder operations495,317 443,394 
Land development2,304 3,944 
Total revenues$497,621 $447,338 
Gross profit:
Builder operations
Central$117,144 $109,666 
Southeast48,461 48,091 
Total builder operations165,605 157,757 
Land development1,118 305 
Corporate, other and unallocated (2)
(10,938)(9,805)
Total gross profit$155,785 $148,257 
Three Months Ended March 31,
(in thousands)20252024
Segment expenses:
Commissions
Builder operations
Central$17,575 $15,742 
Southeast4,434 4,566 
Total builder operations22,009 20,308 
Land development— — 
Corporate, other and unallocated 240 — 
Total commissions$22,249 $20,308 
Salaries
Builder operations
Central$11,777 $11,022 
Southeast6,158 6,095 
Total builder operations17,935 17,117 
Land development— — 
Corporate, other and unallocated(7,187)(5,253)
Total salaries$10,748 $11,864 
Other expenses
Builder operations
Central$9,455 $8,090 
Southeast4,018 3,689 
Total builder operations13,473 11,779 
Land development147 64 
Corporate, other and unallocated8,278 6,555 
Total other expenses$21,898 $18,398 
Interest expense/(income):
Builder operations
Central$(72)$(10)
Southeast4,840 9,802 
Total builder operations4,768 9,792 
Corporate, other and unallocated(4,768)(9,792)
Land development— — 
Total interest expense/(income), net$— $— 
Total segment expenses
Builder operations
Central$38,807 $34,854 
Southeast14,610 14,350 
Total builder operations53,417 49,204 
Land development147 64 
Corporate, other and unallocated1,331 1,302 
Total segment expenses$54,895 $50,570 
Three Months Ended March 31,
(in thousands)20252024
Income before income taxes:
Builder operations
Central$79,001 $75,521 
Southeast34,478 34,794 
Total builder operations113,479 110,315 
Land development1,220 473 
Corporate, other and unallocated (3)
(8,551)4,845 
Income before income taxes$106,148 $115,633 
March 31, 2025December 31, 2024
Inventory:
Builder operations
Central$733,534 $743,490 
Southeast316,357 318,592 
Total builder operations1,049,891 1,062,082 
Land development883,290 826,687 
Corporate, other and unallocated (4)
53,344 48,963 
Total inventory$1,986,525 $1,937,732 
Goodwill:
Builder operations - Southeast$680 $680 
(1)The sum of Builder operations Central and Southeast segments’ revenues does not equal residential units revenue included in the condensed consolidated statements of income in periods when our builders have revenues from land or lot closings. For the three months ended March 31, 2025, Builders had no revenues from land or lot closings and $ 0.1 million revenues for the three months ended March 31, 2024.
(2)Corporate, other and unallocated gross loss is comprised of capitalized overhead and capitalized interest adjustments that are not allocated to builder operations and land development segments.
(3)Corporate, other and unallocated income (loss) before income taxes includes results from Green Brick Title, LLC, Ventana Insurance, LLC, GRBK Mortgage, LLC, Green Brick Insurance Services, LLC and investments in unconsolidated subsidiaries, in addition to capitalized cost adjustments that are not allocated to operating segments.
(4)Corporate, other and unallocated inventory consists of capitalized overhead and interest related to work in process and land under development.